Technology
January 7, 2021

DUBLIN–(BUSINESS WIRE)–The “Utility Billing Software Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.

The Utility Billing Software Market is expected to grow at a CAGR of 8.31% during the forecast period (2020 – 2025).

Utilities comprise of effective billing and collection systems. The rapidly changing industrial environment, the presence of digitally advanced consumers, and the convergence of digital devices and technologies and traditional business processes are increasingly making it complex for the utility industry.

Companies Mentioned

  • Harris Computer Systems
  • PayStand Inc.
  • Utilibill Pvt. Ltd.
  • ePsolutions Inc.
  • Jendev Corporation
  • Oak Bay Technologies Inc.
  • Jayhawk Software Inc.
  • Banyon Data Systems Inc.
  • Sigma Software Solutions Inc.
  • Oracle Corporation

Key Market Trends

Power Distribution Industry Expected to Hold Significant Market Share

  • Electricity billing had evolved from the days when utilities gathered monthly energy consumption data to produce a paper invoice that they sent to customers via mail. The use of smart meters, such as two communicating meters, makes it more readily adaptable to streamline the process.
  • For instance, Starnik, which is a software company for utility billing, provides cloud-based electricity billing software for the modern-day utility industry. The incredibly innovative electricity billing software of the company has helped to revolutionize the way utilities collect and process daily usage and billing data. With the electricity billing software developed by the company, it is easy to receive and store 15-minute interval reading from the smart grid-enabled devices.
  • DataWest, which provides software products for the needs of the utility industry, has its own electric utility billing software BillMaster. This electric utility billing software is crafted with the needs of electric clients firmly in mind. The company has extensive experience in the electricity industry and has provided the practical, real-world knowledge of electric utility needs, processes, and practices necessary to pack BillMaster with precisely the features and functions that the utility needs.

North America Expected to Have Significant Market Share

  • North America is expected to have a significant market share due to the advanced utility infrastructure in this region and the availability of funds for supporting the switch to operational advancements. Further, the presence of the cup[porting critical infrastructure makes it easy to introduce these solutions in the market.
  • Utility businesses in this region are also focused on effective consumer services to stay ahead of the increasing competition. Advanced billing software is also a norm in the utility industry in this region owing to the high integration of digital platforms like social media, mobile devices, web portals, and the presence of digitally literate consumers.
  • Central Square Technologies, which is a software company based in North America, provides technology solutions for various utilities. USTI develops, supports, and markets integrated municipal government software throughout the United States and Canada. USTI is considered as the national leader in integrated municipal government software, with over 900 customers using its asyst products.
  • Similarly, in October 2019, Utegration, LLC and HPC America has announced that they have entered into a definitive agreement under which Utegration intends to acquire HPC America. Through this, Utegration and HPC America intend to offer advanced professional services and solutions primarily focused on the utility and energy markets in North America.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Improvement in Legacy Billing Systems and IT Infrastructure

4.2.2 Growing Investment in Smart Grid Technology

4.3 Market Restraints

4.3.1 Lack of Digital Skills Among End-user Industries

4.4 Industry Attractiveness – Porter’s Five Force Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Buyers

4.4.3 Threat of New Entrants

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

4.5 Assessment of Impact of Covid-19 on the Market

5 MARKET SEGMENTATION

5.1 By Deployment Mode

5.1.1 Cloud-based

5.1.2 On-premise

5.2 By End-user Industry

5.2.1 Water

5.2.2 Oil & Gas

5.2.3 Power Distribution

5.2.4 Telecommunication

5.2.5 Other End-user Industries

5.3 Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 United Kingdom

5.3.2.3 France

5.3.2.4 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 Japan

5.3.3.3 India

5.3.3.4 Rest of Asia-Pacific

5.3.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles*

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/1ca20f